Business
Sanwire Corporation to Create Preferred Stock to Minimize Dilution to Shareholders
Sanwire Corporation to Create Preferred Stock to Minimize Dilution to Shareholders.
About this update from Sanwire Corp.
[{"type":"text","content":"\n\n\n\nSanwire Corporation to Create Preferred Stock to Minimize Dilution to Shareholders\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSanwire Corporation to Create Preferred Stock to Minimize Dilution to Shareholders\nPR Newswire\nLONDON, June 29, 2020\n\n\n\nLONDON, June 29, 2020 /PRNewswire/ -- Sanwire Corporation, (\"Sanwire\" or \"the  Company\") (OTC: SNWR), a diversified company with a focus on technologies for the entertainment industry, announced today that it will be filing certificates of designation for its Series A, B, and C preferred stock with Nevada Secretary of State.\nIntercept Music, Inc. (\"Intercept\"), wholly owned subsidiary of Sanwire, has progressed rapidly from development stage to product commercialization to revenue generation in a short timeframe. Intercept is embarking on a rapid growth plan that includes revenue expansion from existing markets, accelerated customer acquisition, new industry partnerships, and penetration of new markets. \nTo support Intercept's business plan execution, Sanwire is working on a multi-dimensional plan that includes acquisitions, attracting sophisticated investors and enhancing Sanwire's current balance sheet while minimizing shareholder dilution. Sanwire believes preferred stock would be the ideal instrument to utilize.\nMr. Christopher Whitcomb, Sanwire's CEO commented: \"Our paramount goal is to maintain a balanced approach between future investments and shareholder value while minimizing shareholder dilution. The effective utilization of preferred stock ensures our company can grow with the least amount of shareholder dilution.\" \nAbout Intercept Music, Inc.\nIntercept Music, Inc. is an entertainment technology company dedicated to helping independent artists effectively distribute, market, and monetize their music. Sold through a Software as a Service (Saas) model, Intercept's online platform delivers an unsurpassed combination of marketing, promotion, and distribution to hundreds of stores worldwide and every major streaming service, including Apple Music, Google Music, Pandora and Spotify. ...